CPS Energy, City of San Antonio, and Silicon Valley Innovator Share Smart Infrastructure Vision to Drive Economic Growth and an Energy Efficient Future for Texas
San Antonio, TX – November 6, 2014 – Today, Scott Lang, Chairman, President and CEO of Silver Spring Networks, Inc. (NYSE: SSNI) and Doyle N. Beneby, President and CEO of CPS Energy, officially opened Silver Spring’s San Antonio office to help serve CPS Energy with the full deployment of its smart grid program, and its customers in the Midwest region. The ceremony also provided Silver Spring and CPS Energy the opportunity to showcase how the New Energy Economy initiative is driving innovative technologies that help protect the environment, enable citizens to use energy more wisely, and create valuable economic development opportunities for San Antonio’s future. The new Silver Spring office will house approximately 60 employees, including a technology demonstration center, from which Silver Spring’s open, standards-based smart infrastructure platform can help drive the next generation of economic growth and productivity in San Antonio.
CPS Energy is already deploying Silver Spring’s smart infrastructure network to connect its 740,000 electric and 340,000 natural gas customers in the Greater San Antonio area to help improve grid reliability, increase energy efficiency, and empower consumers to make smart energy choices. CPS Energy is also leveraging the Silver Spring platform to roll out a Distribution Automation program.
“We are thrilled to be a part of the New Energy Economy vision and are proud to officially open our new local office. Some of the industry’s top engineers, citizen engagement experts, and field, maintenance and services technicians will be dedicated to the advancement of the City of San Antonio,” said Lang. “CPS Energy is a true innovator which is already leading the development of smart city and smart energy networks, and it is our honor to help them deliver modern, secure, reliable and efficient infrastructure to help achieve this innovation and development for the citizens of San Antonio.”
CPS Energy President and CEO Doyle N. Beneby acknowledged that the company is, “excited to reach another milestone in our journey to establish a hub here for the New Energy Economy. By leveraging our buying power for products and services we need to improve service for our customers, we’re bringing clean tech jobs and education investments to our community, thanks to innovative partners like Silver Spring.”
San Antonio Mayor Ivy Taylor added, “I’m pleased to see Silver Spring Networks establishing roots in our community—not only through their work, but also through support for education in our community, with a smart grid curriculum for teachers, internships for college students and the establishment of an education fund through the Area Foundation.”
Silver Spring’s Smart City solution leverages its IPv6-based network to help establish a communications foundation for a city’s critical infrastructure, including smart energy networks, smart street lighting, environmental sensors, pollution sensors, traffic signals and electric vehicle chargers, among others. The Silver Spring Smart City solution has also been selected for programs in cities around the globe such as Barcelona, Copenhagen, Dongguan, Dublin, Glasgow, Jakarta, Miami, Oslo and Paris.
For more information on please visit www.silverspringnet.com/smartcities.
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About Silver Spring Networks
Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Silver Spring’s pioneering IPv6 networking platform, with over 19.5 million Silver Spring enabled devices delivered, is connecting utilities to homes and business throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring’s innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks’ customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Progress Energy and Singapore Power, among others. To learn more, please visit www.silverspringnet.com.
Silver Spring Networks
This press release contains forward-looking statements about Silver Spring Networks’ expectations, plans, intentions, and strategies, including, but not limited to statements regarding Silver Spring Networks’ new San Antonio office, the benefits of the Silver Spring Networks’ Smart City solutions, and Silver Spring Networks’ projects with CPS Energy. Statements including words such as “anticipate”, “believe”, “estimate”, “expect” or “future” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Silver Spring Networks’ documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Silver Spring Networks as of the date hereof. Silver Spring Networks assumes no obligation to update these forwa